Concurrent Investment Advisors LLC Boosts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Concurrent Investment Advisors LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 12.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,675 shares of the company's stock after buying an additional 3,155 shares during the period. Concurrent Investment Advisors LLC's holdings in Eli Lilly and Company were worth $22,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. World Investment Advisors raised its position in shares of Eli Lilly and Company by 7.1% during the 1st quarter. World Investment Advisors now owns 17,756 shares of the company's stock worth $14,664,000 after acquiring an additional 1,182 shares in the last quarter. Olde Wealth Management LLC purchased a new position in Eli Lilly and Company in the first quarter valued at approximately $154,000. Truist Financial Corp increased its stake in Eli Lilly and Company by 1.4% in the first quarter. Truist Financial Corp now owns 372,003 shares of the company's stock valued at $307,241,000 after purchasing an additional 5,217 shares during the last quarter. Capital Investment Advisory Services LLC raised its holdings in Eli Lilly and Company by 4.9% during the first quarter. Capital Investment Advisory Services LLC now owns 8,084 shares of the company's stock worth $6,677,000 after purchasing an additional 377 shares in the last quarter. Finally, Morris Financial Concepts Inc. lifted its position in shares of Eli Lilly and Company by 34.0% during the 1st quarter. Morris Financial Concepts Inc. now owns 2,195 shares of the company's stock worth $1,813,000 after buying an additional 557 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LLY. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company Stock Performance

LLY traded up $0.32 on Friday, hitting $779.60. 1,450,772 shares of the company traded hands, compared to its average volume of 3,667,986. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company has a 50 day moving average of $773.61 and a 200-day moving average of $799.96. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $738.85 billion, a PE ratio of 63.43, a PEG ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the firm posted $2.58 EPS. The company's revenue for the quarter was up 45.2% on a year-over-year basis. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.